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    Hormel wins innovation award for product challenge

    By Dan Haugen | Published Mon, Jul 20 2009 12:32 pm

    A billion dollars in sales from new products and a new concept for grocery stores helped earn Hormel Foods a Stevie Award last month for "Most Innovative Company."

    The Austin, Minn., company says it also took home awards in the categories for Best Web Site and Best Annual Report.

    The innovation award reflects the company's Billion Dollar Challenge in 2000 to generate $1 billion in sales from new products by 2009. The company met the goal two years early.

    Hormel was also praised for a research study that showed grocery stores can better serve customers by creating a "dedicated convenience meal aisle" instead of scattering convenience items throughout a store.

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